Econet Wireless to Raise $130m Through Rights Issue, Debentures

January 17, 2017

Co. to raise funds through offer of 1.08b shares plus 263m Class A shares at subscription price of 5 US cents/share, company says in statement e-mailed by Securities Africa.

* Rights issue in ratio of 82 ordinary shares per 100 held;
* Each rights offer share to be linked to redeemable accrual debenture with subscription price of 4.665 US cents at a coupon rate of 5% per annum;
* Offer underwritten by Econet Global. Source: Bloomberg